Aviation business solutions firm Avia Solutions Group, has signed an agreement with the largest Russian state-owned holding company Rostec.
Both are to establish a joint business venture and implement a project for a fourth Moscow airport hub, where activity is planned for the summer of 2015.
Ramenskoye International Airport, as it would be known, would be built to specifically meet demand for low-cost travel and airlines and will have a capacity of 12mppa.
Avia Solutions Group is to invest one billion Russian RUB (more than US$30 million) into the company's share capital and control up to 75% of the newly established company stocks.
Rostec will contribute by bringing in land and real estate currently under its ownership in the territory of Ramenskoye aerodrome and in seven years time, the total investment is expected to top $236 million.
Avia Solutions Group and Rostec will conduct the Ramenskoye development project in three stages, and plan on completing it between 2014-2019.
At the moment the airfield, also known under the name of Zhukovsky, has two landing strips - one of which is the longest in Europe at 5.4 kilometres.
To transform the airfield into a full-fledged international airport a passenger terminal will be built and appropriate services established.
In the first stage, existing facilities of Ramenskoye aerodrome will be supplemented with a new 7,000sq metre terminal (capable of serving up to 1.8mppa) as well as short-term and long-term parking facilities.
Local government institutions are expected to reconstruct the automobile road from the highway to the airport and, by 2020, connect Ramenskoye with rail links.
Tomas Vaisvila, head of aviation infrastructure development and management at Avia Solutions Group, says: “Moscow is not only the Russian, but also the regional air transportation hub with airports serving millions of passengers each year.
“However, the existing three international airports in the capital of Russia are rapidly approaching the limits of their capacity.
“It is expected in 2020 airports in Moscow will serve 96.5 million passengers per year. What it truly means is that even upon the development and expansion of the existing infrastructure in the currently operating three airports the capacity deficit will reach 10 million.
“At the moment Russia is in the early stage of developing its market of full-fledged low cost carriers. The process has been further slowed down by the lack of appropriate infrastructure to serve such airlines.”
According to Vaisvila, the existing three airports in Moscow cannot offer favourable conditions to meet the needs and demands of low-cost carriers.
In the second and third stages of development, the company is planning to build a second terminal and significantly expand the first terminal.
The combined area of both will raise the airport capacity to 12mppa and will be expanded with a cargo handling terminal, aircraft maintenance centre, multi-storey car parks for 3,240 automobiles, a 250-room hotel and two offices built and a 100,000sq metre shopping and entertainment mall.
Upon the successful implementation of all three development stages Ramenskoye International will have attracted more than $236 million worth of investment and hopefully create about 10,000 new jobs.
By 2022, the airport is expected to total 240,000sq metre of aviation and other infrastructure able to serve more than 20 million international and regional passengers.